Hi Vladimir!  Happy new year to you too!

First let me say, I am not a lawyer, I just work for about 180 of them.
Second, I suggest you pose this question of your General Counsel.  Third,
here's my thoughts ...

You should make arrangements to have the material sent to you.  Do NOT have
your outside counsel firm shred them.  There is likely much of the file that
CAN be destroyed (duplicates, etc.), but not without review.

In general you will want to keep a copy of the primary litigation file
(the culled file - just the important stuff) for a period of time after
settlement (whether it settled in or out of court) in the event there is a
need to defend the terms of the settlement, among other reasons.  The length
of time that ends up being his highly dependent upon the nature of the
matter, the terms of the settlement, your jurisdiction, any tolling or
statute of limitations that might apply, etc.

I'm sure this is probably not the answer you wanted to hear, but honestly
I feel it is in the best interests of your company to take possession of the
file.  Law firms for many, many years have acted as free storage for their
clients, however those days are quickly ending.  The majority of a file
created during representation belongs to you - it is your property - and so
law firms are now anxious to return your property to you and let you decide
what to do with it (or pay to store it!).

I hope that helps - please feel free to contact me offline if you have any
questions I can answer as the RM for a law firm.

Best,
Julie

-- 
Julie J. Colgan, CRM

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